Reading Lang plans to go public in Hong Kong's main board, and it is expected to issue 52 million shares

On June 29, Capital State learned that according to the company's announcement, Reading Lang Education Holdings Co., Ltd. (hereinafter referred to as: Reading Lang) plans to be listed on the main board of Hong Kong. The sponsor is CITIC Jiaotong Investment (International) Financial Co., Ltd. Co., Ltd.. Earlier, the company handed over the table on May 18, 2022. This IPO is expected to issue 5.20 million shares, of which 5.20 million shares are available in Hong Kong, 46.8 million million shares were available in international offerings, and 7.8 million shares were extended.

The issue price range is 7.60 to HK $ 10.00 per share. The listing date is expected to be on July 12, 2022, with 400 shares per hand.

In terms of funds, about 35%of them will be used to deepen the company's distribution network reform and strengthen its regional expansion and penetration; about 25%will be used for research and development company information technology and infrastructure to enhance the company's provision of digital teaching aid resources The overall technical advantages of intelligent learning equipment; about 20%will be used to invest and optimize the company's product and service supply to further enhance the company's competitiveness; about 10%will be used to enhance the company's textbook development capabilities and make the company's digital teaching auxiliary assistant assistance Resources are further diversified; about 10%will be used as the company's operating funds and general company use.

Reading Lang Education Holdings Co., Ltd. is a supplier of China's intelligent learning equipment service, and focuses on designing, developing, manufacturing, and selling all kinds of intelligent learning equipment for primary and secondary school students, parents and school teachers. Founded in 1999, the company has become China's leading intelligent learning equipment technology service provider with a mature education ecosystem.

As of December 31, fiscal 2019, fiscal 2020, and 2021, the company's revenue was 670 million, 734 million, and 813 million yuan, and net profit was 69.435 million, 920.13 million, and 82.146 million yuan, respectively.

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